Where the Metrocenter redevelopment stands after homebuilder backs out

Article originally posted on AZ Central on June 23, 2026

The Metropolitan, the long-awaited redevelopment of Metrocenter Mall, will begin vertical construction in early 2027, but the Colorado-based homebuilder that was planned to lead the effort has withdrawn from the project.

Oakwood Homes had planned to build the residential portion of the project, including both rental and for-sale townhomes. However, the company was not going to be sufficiently staffed in Phoenix to move as quickly as the redevelopment process will require, Steve Betts, senior development director for Concord Wilshire, the developer of the Metropolitan, said.

Arizona’s construction industry has faced an acute shortage of workers for years, a pinch that is expected to get tighter. The industry is expected to need about 20,000 more people in Arizona by 2030, state leaders announced in 2025.

Betts said Oakwood’s decision was made with enough time to not affect the schedule of the project, because all construction so far, and through the rest of the year, will be infrastructure-related, including water and sewer, power and roads.

Concord Wilshire is narrowing down prospective builders to take Oakwood’s place in the project, Betts said. The group would like one builder to construct all the housing on the site, so there are no competing interests.

“All of the national builders that expressed interest before are even more interested now,” Betts said, adding that companies are excited to be part of the Metropolitan project, but also want to capitalize on other momentum in north Phoenix, like proximity to the Taiwan Semiconductor Manufacturing Co.’s $165 billion plant under construction about 15 miles north of the Metropolitan.

Betts said the group has narrowed the field to a few national homebuilders and will decide on who to partner with in the coming weeks. The change in builders will not affect the development plan, which calls for more than 1,000 townhome units, both rentals and for-sale, Betts said. It also will not affect the construction timeline.

Betts said the group is talking with national builders that develop dense, urban housing projects in other markets.

The former mall site totals about 80 acres near Interstate 17 and Dunlap Avenue.

The project is on schedule with the infrastructure construction, Betts said. The site has some complications because the Super Walmart and self-storage facilities must remain hooked up to the old water and power systems until the new system is finished, then must be moved to the new system. The infrastructure work will continue through the end of the year and into the first half of 2027, Betts said.

The housing projects will begin construction in early 2027, followed by retail. Scottsdale-based Diversified Partners is the brokerage for the retail space, and has been presenting it to possible tenants, but it is too early to have any commitments yet, Betts said. The development will include about 115,000 square feet of retail and restaurants, which will center around the “urban core” of the project.